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Insurance Company
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ING Vysya Life Insurance Company Ltd
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Plan Name
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ING Flexi Life
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Plan Nature
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ULIP
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Plan Category
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Investment Plan
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UIN No.
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114L041V01
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About Plan
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ING Flexi Life is a Unit Linked Insurance Policy that combines the benefit of protection & investment opportunity. It is a great combination of flexibility in terms of mode and amount of premium payment and transparency in a single policy. You have the option to extend your Protection Coverage through rider options as well. At the end of the term; the amount accumulated in your fund will be given as Maturity Benefit, while withdrawal facilities during the term will help you to meet financial contingencies.
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Minimum Entry Age
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0 Yrs lbd (for entry ages below 12 Yrs,risk cover commences from age 5 or 2 Yrs from policy commencement date,whichever is later)
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Maximum Entry Age
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60 Yrs
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Minimum Maturity Age
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18Yrs
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Maximum Maturity Age
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70 Yrs
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Minimum Sum Assured
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6.25 times the annualized premium
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Maximum Sum Assured
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25 times of first year annualized premium
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Minimum Policy Term
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10/20 years
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Minimum top-up premium.
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Rs.2000
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Benefits
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| Particulars | Description |
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Maturity Benefits
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On maturity of the policy, Fund Value as on the date of maturity will be paid in lump sum or in equal installments during the settlement period.
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Death Benefits
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In the unfortunate event of death of the Life Assured during the policy term, higher of Sum Assured (Less any partial withdrawals during the 2 years immediately preceding the date of death of the Life Assured) OR the Fund Value will be payable.
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Surrender Benefit
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The importance of availability of cash in some emergencies can't be denied, therefore, we provide you with a choice of surrendering the policy. You can avail this facility after payment of one full year's premiums; however, the Surrender Value payment can be made only after completion of 3 full policy years. The Surrender Value payable will be the Fund Value less applicable Surrender Charges.
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Tax Benefits
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| Section | Description |
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SEC 80 C
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Under Section 80 C premiums up to Rs. 100,000 are allowed as deduction from taxable income.
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SEC 10 (10)D
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Maturity and Death Benefits are tax free under section 10 (10) D of the Income Tax Act, 1961.
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This plan provides you the flexibility to alter your premium amount from the 2nd year onwards. You can either increase or decrease the premium amount subject to a minimum of 75% of the first year's annualised regular premium and a maximum of 125% of the first year's annualised regular premium on an annualised basis. Also, at any point of time if you choose to invest more than the first year's annualised regular premium amount, you can do so by way of additional premium Top-ups The flexibility is available throughout the term.
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This plan provides flexibility in payment of premiums; you can choose the mode of payment depending on your convenience either through yearly, half-yearly,quarterly & monthly modes.
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This feature provides you the convenience of continuing your life insurance cover including rider cover, if any, in case you opt not to pay premiums any time after payment of at least three policy years' regular premiums required to keep the policy in force. This option should be exercised in writing at least three months before the end of policy revival date and is subject to underwriting. You can still avail partial withdrawals, switches and surrenders. On exercising this option, the mortality charges, rider charges, if any, Fund Management Charges and administration charges shall be recovered from the fund value. If the fund value at any time falls to 1.5 times of first year's annualised premium, the balance of the fund value less surrender penalty subject to a minimum of one full year's premium is paid and the policy foreclosed. Once the cover continuation option is exercised, no premiums can be paid into the policy.
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Balanced Fund
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Debt Fund
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Growth Fund
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Secure Fund
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Particulars
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Range
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Balanced Fund
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Equity
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20% - 40%
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Debt
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60% - 80%
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Debt Fund
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Debt instruments
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0% - 100%
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Growth Fund
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Equity
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40% - 60%
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Debt
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40% - 60%
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Secure Fund
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Equity
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10% - 20%
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Debt
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80% - 90%
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Balanced Fund
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19-Jun-13
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21.0229
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Debt Fund
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19-Jun-13
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19.4401
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Growth Fund
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19-Jun-13
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22.7189
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Secure Fund
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19-Jun-13
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20.3398
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Balanced Fund
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Debt Fund
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Growth Fund
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Secure Fund
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06-Aug-09
09:45
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Frank Koster as CEO for Asia/Pacific Insurance business : ING
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27-May-09
10:42
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Hiring of 3,000 advisers a month : ING Life
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20-May-09
14:15
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ING Life Insurance has tied up with Suvidhaa Infoserve
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13-May-09
12:46
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Premium income growth of 24 in last FY : ING Vysya Life
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26-Feb-09
12:28
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ING Life tied up with South Indian Bank
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12-Feb-09
18:36
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ING Life launches ULIP 'ING Prime Life'
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11-Feb-09
10:40
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Pension Plans Contribute
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10-Feb-09
13:52
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ING group to infuse more capital into joint venture
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13-Jan-09
13:50
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ING bets on TV ad to improve connect
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02-Oct-08
09:51
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ING Vysya ties-up with eSeva in Hyderabad
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